NewWorld Capital, an environmentally-focused private equity firm, led the financing for the U.K.-based company, which works with water utilities worldwide to inspect, maintain, repair and monitor water infrastructure.
Nearly a quarter of the U.K.’s piped water supply is lost through leakages. In the U.S., many water pipes are close to or over 100 years old and in need of upgrade or replacement. New York-based NewWorld has primarily backed solar ventures, like home solar installer PosiGen.
“This investment enables us to remedy toxic lead levels in drinking water, rehabilitate natural gas and water lines, and expand to address other systemic issues emerging around the world,” Aquam’s Dan Squiller said.
